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December 13, 2007

Financial Markets
Euro-yuan-dollar diplomacy

Europe to China: Please do not buy any more euros.EU economic and monetary affairs commissioner Joaquin Almunia said China should not take any steps to increase its euro reserves at the moment.  Aske…

December 16, 2007

Economics
Weekend extra-credit -

Weekend reading for all those waiting for the US current account and TIC data on Monday. Time for a strong rupee policy?  This weeks’ Economics focus column intelligently discusses the policy d…

January 9, 2008

Financial Markets
Read Rogoff and Reinhart

Let me second Martin Wolf. Ken Rogoff and Carmen Reinhart’s recent paper is brilliant. They also have mastered the art of saying a lot in a little space. There is no excuse not to read it in full. Ro…

April 4, 2008

United States
The poor are financing the profligate

Martin Wolf’s column – “The prudent will have to pay for the profligate” – focuses on the need for the broad public to help out some who took large risks in the boom, whether individuals who borrowed…

April 24, 2008

Capital Flows
Adapting to the state’s growing role in global equity markets

Central bank purchases of traditional reserve assets still dwarf sovereign wealth fund purchases of riskier assets -- as well as central bank purchases of equities. But over time, it is reasonable …

September 8, 2008

China
Emergence of State Capitalism

After years of celebrating the triumph of market capitalism, many of its advocates today are troubled by the emergence of 'state capitalism', particularly in the form of sovereign wealth funds. How…

Emergence of State Capitalism

September 22, 2008

Brazil
Proposals for Wall Street

As the graph above indicates, the markets' perception of the risk of failure increased following the bankruptcy of Lehman Brothers. The Wall Street crisis has demonstrated the need for a systematic…

Proposals for Wall Street

September 26, 2008

Brazil
Wall Street Bailout

The charts above put the size of Paulson’s $700 billion rescue plan into perspective. Given that $700 billion is small relative to the total assets of all FDIC insured institutions, the design of t…

Wall Street Bailout

December 15, 2008

United States
Trade Troubles

The World Bank is predicting a 2.1% fall in world trade for 2009, the first decline since 1982. As our chart shows, East Asian exports are slowing in tandem with Western world imports. Although G20…

Trade Troubles

February 10, 2009

Budget, Debt, and Deficits
Fiscal Stimulus

America, the world’s largest deficit country, is considering a fiscal stimulus of about $800 billion. China, the largest surplus country, has announced a stimulus of $586 billion, although the effe…

Fiscal Stimulus